Following receipt of regulatory approval, Valartis Group AG announced on 21 October 2019 its share buy-back programme:
The Annual General Meeting of Valartis Group AG, rue de Romont 29/31, 1700 Fribourg FR, (“Valartis” or the “Company”) on 14 May 2019 decided to buy back own shares up to a maximum amount of 470,000 shares either via a separate trading line on SIX Swiss Exchange AG or by other means. Based on this approval, the Board of Directors of Valartis Group AG has decided to repurchase the maximum amount in two stages. As part of the share buyback offer submitted by the Board of Directors on 28 May 2019 for a maximum of 359,000 registered shares at a fixed price of CHF 10.30 per registered share, Valartis was tendered a total of 432,966 registered shares during the offer period from 11 June 2019 to 25 June 2019 and the offer was reduced proportionately to a maximum of 359,000 registered shares (1st stage). On the basis of the resolution of the Annual General Meeting of 14 May 2019, the Board of Directors decided to buy back a maximum of 111,000 registered shares at a fixed price (2nd stage; the “buyback programme” or the “buyback offer”). This corresponds to a maximum of 2.33 percent of the currently registered capital of CHF 4,769,295.00, divided into 4,769,295 registered shares with a par value of CHF 1.00 each, and the voting rights.
The Board of Directors will propose a capital reduction by cancellation of the registered shares repurchased under the 1st and 2nd stages to the Annual General Meeting on 19 May 2020.
Ordinary trading in Valartis registered shares under security number 36,742,768 will not be affected by this measure and will continue normally. A Valartis shareholder willing to sell therefore has the choice of either selling Valartis shares in normal trading during the offer period or tendering Valartis shares at a fixed price as part of the repurchase offer.
The conditions contained in TOB Circular No. 1 on buyback programmes are complied with.